Ireland emerges from its double dip recession

September 19, 2013
Obsession
Debt
September 19, 2013

Ireland emerged from its second recession in five years during the second quarter. Growth rose to 0.4% during the three months ended in June, less than the market’s expectation of 1%, according to Bloomberg.  Exports and consumer spending helped drive output in the once high-flying economy. (The collapse of a large property bubble, and then the bulk of the country’s banking system, forced Ireland to seek a bailout in 2010.)

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But there’s relatively little to celebrate in Ireland at the moment. Unemployment is near 14%. The banking system remains a mess. And because the economy has performed so poorly, the nation’s debt load continues to rise.

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